China Urges “Unrelenting” Implementation of Economic Policy

China’s central government called for “unrelenting” implementation of its economic policies and reform measures to consolidate the nation’s recovery from a two-quarter slowdown and improve the quality of growth.

While the economy is “stable and trending for the better,” and the nation has the ability to achieve this year’s targets, the foundations of the rebound are “not yet firm,” the State Council said in a statement late yesterday after an Oct. 18 meeting led by PremierLi Keqiang.

China’s economic expansion accelerated to 7.8 percent in the third quarter from a year earlier, the statistics bureau said Oct. 18, reversing a slowdown that put the government at risk of missing its 7.5 percent growth target for 2013. The nation’s top leaders will meet next month to map out policies to reform the economy and sustain long-term growth at about 7 percent.

Bloomberg

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